Letting agent provides advice for landlords

News Category: Industry News

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A letting agent has given landlords what could be vital advice in the current tough economic environment.

Despite many property organisations suggesting the lettings sector remains strong, there are still a number of tricky issues property owners may have to deal with while the UK's financial situation remains precarious, according to Young London.

With unemployment levels increasing each week, landlords may find that their tenants end up out of work, which could lead to problems regarding rent payment.

Young London suggested that it may not necessarily be a bad thing to allow struggling customers to break tenancy agreements and leave the house early - as losing money in the short term may be offset by finding a more reliable tenant to replace them.

"If the rent isn't being paid and your local letting market is fairly buoyant it may be worth allowing your tenant to leave so that you can let the property to a paying tenant," the company explained.

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